Robinhood’s crypto revenue dropped 12% in Q3, with executives pointing to customers' difficulty navigating a “volatile market environment” as one of the main factors causing the fall.
During the conference call, Robinhood’s CEO Vladimir Tenev said the firm is planning to offer the Robinhood Wallet to its international retail base in the months to come.
Tenev also noted that “customers have asked for Robinhood to add more blockchains to increase the breadth of coins available for them to swap and trade.” “We hope that customers understand and appreciate that we're moving carefully [...] Sometimes, that means moving a little bit slower than a lot of these other crypto companies. But we want to be extremely deliberate and to help protect customers and their money.”Tenev also noted that Robinhood rolled out a free “Learn and Earn” cryptocurrency education program as a means to educate and retain a broader retail base over the long term.
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